Westwood Management Corp IL Buys 20,000 Shares of Square, Inc. (NYSE:SQ)

Westwood Management Corp IL increased its position in Square, Inc. (NYSE:SQ) by 23.5% during the second quarter, Holdings Channel reports. The fund owned 105,000 shares of the technology company’s stock after buying an additional 20,000 shares during the period. Square comprises about 0.4% of Westwood Management Corp IL’s portfolio, making the stock its 24th largest position. Westwood Management Corp IL’s holdings in Square were worth $2,463,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Square during the fourth quarter worth $910,000. State Board of Administration of Florida Retirement System increased its position in shares of Square by 5.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 19,810 shares of the technology company’s stock worth $270,000 after buying an additional 1,070 shares in the last quarter. State Street Corp increased its position in shares of Square by 4.1% in the fourth quarter. State Street Corp now owns 1,122,838 shares of the technology company’s stock worth $15,302,000 after buying an additional 44,331 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Square by 32.0% in the fourth quarter. GSA Capital Partners LLP now owns 25,231 shares of the technology company’s stock worth $344,000 after buying an additional 6,122 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of Square by 4.0% in the fourth quarter. Guggenheim Capital LLC now owns 18,680 shares of the technology company’s stock worth $255,000 after buying an additional 727 shares in the last quarter. Institutional investors and hedge funds own 74.91% of the company’s stock.

Shares of Square, Inc. (SQ) traded down 0.86% during mid-day trading on Monday, hitting $26.62. The company’s stock had a trading volume of 1,503,181 shares. Square, Inc. has a 1-year low of $9.50 and a 1-year high of $27.00. The company has a 50-day moving average price of $24.29 and a 200-day moving average price of $18.83. The stock’s market cap is $9.96 billion.

Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, May 3rd. The technology company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. The company had revenue of $461.55 million during the quarter, compared to analysts’ expectations of $450.66 million. Square had a negative return on equity of 15.81% and a negative net margin of 5.02%. Analysts predict that Square, Inc. will post ($0.19) EPS for the current fiscal year.

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A number of research analysts have recently weighed in on SQ shares. Credit Suisse Group downgraded Square from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $20.00 to $25.00 in a report on Friday, June 16th. Royal Bank Of Canada lowered their price target on Square to $18.00 and set a “buy” rating on the stock in a report on Monday, April 24th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target (up previously from $20.00) on shares of Square in a report on Thursday, May 4th. KeyCorp reiterated an “overweight” rating on shares of Square in a report on Tuesday, July 18th. Finally, Instinet lifted their price target on Square from $21.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Square has a consensus rating of “Buy” and an average target price of $21.12.

In related news, CEO Jack Dorsey sold 381,500 shares of Square stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $18.63, for a total transaction of $7,107,345.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sarah Friar sold 2,696 shares of Square stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $18.23, for a total value of $49,148.08. Following the transaction, the chief financial officer now owns 373,220 shares of the company’s stock, valued at approximately $6,803,800.60. The disclosure for this sale can be found here. Insiders sold a total of 1,315,438 shares of company stock valued at $27,664,892 in the last 90 days. 32.68% of the stock is owned by corporate insiders.

Square Company Profile

Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.

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Institutional Ownership by Quarter for Square (NYSE:SQ)

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